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Senao International profit beats consensus by 65.4% in Q2

Senao International Co. Ltd. said its normalized net income for the second quarter amounted to 70 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS climbed year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$181.8 million, a gain from NT$88.5 million in the year-earlier period.

The normalized profit margin rose to 2.0% from 0.8% in the year-earlier period.

Total revenue decreased 17.0% on an annual basis to NT$9.07 billion from NT$10.93 billion, and total operating expenses declined 18.9% from the prior-year period to NT$8.83 billion from NT$10.88 billion.

Reported net income increased year over year to NT$235.3 million, or 91 cents per share, from NT$103.8 million, or 40 cents per share.

As of Aug. 5, US$1 was equivalent to NT$31.71.